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If this is for Colorado, in your Colorado state return, you'll find this on the screen Here's the income that Colorado handles differently.
If this is for Colorado, in your Colorado state return, you'll find this on the screen Here's the income that Colorado handles differently.
My road maintenance association (similar to an hoa) collected money assessments for fire mitigation AND I spent time and money mitigating my property as well. How do I document these expenditures for a mail in 1040 and 104?
The expenses are not reported on the federal tax return (1040) only on the Colorado State return on the screen for income that is handled differently.
Wildfire Mitigation Measures Subtraction
Turbo Tax uses AGI to determine is someone is eligible for the Colorado Wildfire Mitigation Tax Credit. However, everything I have read on the State website specifies Federal TAXABLE INCOME as the deciding income level. This is different and usually lower than the AGI. Why is Turbo forcing us to use AGI and thus not receive the credit?
Thank You
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